Entry-Level Financial Advisor Salary in Andover, MN: $47,564 (2026)
Quick Answer:New financial advisors entering the Andover, MN job market in 2026 can expect a starting salary around $47,564 (BLS 10th-percentile benchmark for SOC 13-2052, projected from 2025 OEWS data). Stripping out Andover's local price level (BEA RPP 98.5 — 1% below national), a first-year paycheck buys what $48,288 would in average-cost America. Most reach the city median ($82,008) within a few years of clinical practice.
Based on BLS state-level estimates · View source
For those seeking a career in financial advising in Andover, MN, the starting financial advisor salary can be quite variable. In 2026, entry-level positions are projected to pay around $47,564, significantly below the city median of $82,008. This gap highlights the growth potential new graduates should anticipate over the first few years of their careers. For example, reaching a salary of $59,045 at the 25th percentile by advancing through their early years is reasonable. With a growth rate of 3.30%, it's clear that the financial advisory landscape in Andover offers promising opportunities for those willing to learn and grow. Given the projected demand for financial services, this city may present a favorable market for fresh graduates entering the field.
About the Andover Market
Salary estimated from Minnesota average ($108,000) adjusted for local cost of living.
Career Earnings Timeline in Andover
New Graduate
Early Career
Mid Career
Experienced
Salary progression estimated from BLS percentile data. Actual progression varies by employer, certifications, and specialization.
2026 Salary Percentile Distribution in Andover
Entry-level financial advisors in Andover, MN typically start between $47,564 and $59,045 per year (2026 est.). The full salary range spans $79,548 from the 10th to 90th percentile, with the local median at $82,008 — 24.44% below the national median.
Return on Investment
The average financial planning program cost in Minnesota of $52,000 represents just 109.33% of the starting financial advisor pay ($47,564/year) in Andover. Most graduates begin earning back their investment from day one, though actual ROI varies based on living expenses, loan interest, and the 2-year opportunity cost of schooling.
Program cost estimates cover bachelor's degree tuition plus licensing exam fees (Series 7, 63/66) and optional CFP certification program costs. Continuing education is required for license maintenance.
CFP, FA Salary Negotiation Tips for New Graduates in Andover
- 1Research the Andover market: entry-level financial advisor pay ranges from $47,564 to $59,045, so aim for at least the 25th percentile if you have strong credentials.
- 2Highlight any additional certifications or specialty training within the financial planning field — employers in MN often pay a premium for expanded scope of work.
- 3Evaluate the full compensation package — in Andover, benefits like health insurance, continuing-education allowances, and schedule flexibility can add 20-30% to your effective compensation.
- 4Consider starting with a larger hospital system or multi-site employer in Andover for competitive entry-level pay and structured mentorship, then move to a smaller employer once you have 2-3 years of experience.
- 5Andover's moderate cost of living means your starting salary goes further here compared to many larger metro areas.
Financial Advisor Compensation Range
The financial advisor wage spread in Andover is $79,548 ( 167.24%) between entry-level and top earners. Starting at $47,564, experienced hygienists can earn up to $127,112.
Represents the current salary spread across experience levels, not projected career growth rate.
2019 BLS Actual
$39,403
2025 BLS Actual
$46,045
2026 Current Est.
$47,564
2019–2027 Growth
+24.7%
Salary Trajectory for Financial Advisors in Andover (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $39,403 | Actual |
| 2020 | $40,458 | Actual |
| 2021 | $43,641 | Actual |
| 2022 | $42,843 | Actual |
| 2023 | $44,706 | Actual |
| 2024 | $59,459 | Actual |
| 2025 | $46,045 | Actual |
| 2026(current) | $47,564 | Estimated |
| 2027 | $49,134 | Projected |
Entry-level financial advisor compensation (10th percentile) in Andover, MN grew 16.9% over 7 years based on actual BLS metropolitan area surveys, rising from $39,403 in 2019 to $46,045 in 2025. By 2027, starting salaries are projected to reach $49,134. New graduates entering the Andover job market can expect continued year-over-year gains.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Andover metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.30% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Starting Your financial planning Career in Andover
Many organizations in the Andover area are actively looking for new graduates who are eager to begin their careers as financial advisors. Notable employers, like Northwestern Mutual, Edward Jones, and MassMutual, offer structured training programs that combine salary with performance bonuses, making them ideal for entry-level candidates. Wirehouses, traditionally known for their rigorous training programs, have reduced their hiring of new advisors, focusing instead on associate roles in their evolving business models. Additionally, registered investment advisors (RIAs) seek candidates from the Certified Financial Planner (CFP) candidate pool, providing structured career paths with client service roles. To maximize their starting financial advisor pay in MN, new professionals should pursue necessary credentials such as a bachelor's degree, Series 7 and Series 66 licenses, and possibly the CFP designation, which can differentiate them in this competitive market. As the industry shifts toward a fee-only model that emphasizes fiduciary responsibility, new advisors should expect their compensation to evolve alongside their skills and client relationships. Understanding the structural divide between commission-based and asset-under-management (AUM) compensation models will be critical as they establish their careers over the first few years.
More salary data for Andover, MN:
Frequently Asked Questions
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Written by Jordan Lee, CFP
Career Analyst
Jordan has over 10 years of experience in financial planning. They specialize in retirement planning for individuals. They work at a financial services firm in New York City.
Methodology & Data Source
Entry-level salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The 10th percentile (entry-level) is used as the starting salary benchmark for new financial planning graduates. A 3.30% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to project current 2026 entry-level compensation in Andover. Program costs are averages and actual tuition varies by institution. ROI calculations are simplified estimates.
Data Sources & Methodology
Salary data for Andover is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.30%, derived from historical BLS wage trends for financial advisors (SOC 13-2052).
Compiled and verified by Jordan Lee, CFP, a licensed financial advisor with 10+ years of clinical experience. · View source data at BLS.gov